French Connection is planning to close more stores after it posted a loss for the fifth year running.

The chain, which has an outlet in Rose Crescent in Cambridge, has announced a pre-tax loss of £5.3m, compared to £3.5m the year before.

Revenue for the firm, famous for its FCUK brand, fell 6.7%, to £153.2m.

French Connection told shareholders it has already shut down two stores this year, and plans another six closures before the end of the year as it aims to reduce its number of shops from over 50 to 30.

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Leading investor Gatemore Capital Management is calling for change at the top of the organisation, and says founder Stephen Marks, who is currently the firm's joint chairman and CEO, must relinquish part of his role.

"The board is a mockery of modern corporate governance. With the resignation of Christos Angelides, there are no independent directors in place and the chairman/CEO, Stephen Marks, is refusing to split his role and is running the business with no regard for shareholders."